Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 12/15/11
With low home prices and interest rates at historic lows, today’s market might just present your best opportunity to “move up” to a new home, buy your first home or investment property. A “move up” may represent a lifestyle change to a larger home, different neighborhood, or even a downsize. Whether considering an REO or short sale, buyers should use an agent experienced in these transactions to ensure proper representation and to have a full understanding of the various processes.
I represent buyers and sellers in residential transactions, whether a regular resale or distressed property. If you know anyone who would benefit from my services, please call or email me their information and I will promptly follow up with them. Your referrals of friends, family members and colleagues will always be appreciated.
The Montgomery County Distressed Market
Of the 2674 homes currently available for sale in Montgomery County, 86(3.2%) are REO or foreclosures while 519(19.4%) are potential short sales. The number of foreclosures available is very low and lenders are continuing to receive multiple offers on many and selling them for above list price. Short sales continue to be an active segment for buyers, especially for those who can allow the lender(s) sufficient time to complete the process, usually 3-6 months.
Foreclosures:
There are 41 lender owned foreclosures (REO) for sale at or BELOW $250,000. Click on the listing number to see the full property description. Sort by column headers.
Click the following URL to see the listings:
http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-155333872-405
There are 36 lender owned foreclosures (REO) for sale between $250,000 and $500,000.
Click the following URL to see the listings:
http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-155333925-196
There are 9 lender owned foreclosures (REO) for sale at or Above $500,000.
Click the following URL to see the listings:
http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-155333935-955
Short Sale Pre-foreclosures:
There are 232 short sale listings at and below $250,000.
Click the following URL to see the listings:
http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-155334047-170
There are 233 short sale listings for sale between $250,000 and $500,000. Click on the listing number to see the full property description. Sort by column headers.
Click the following URL to see the listings:
http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-155334055-247
There are 62 short sale listings for sale at or above $500,000
Click the following URL to see the listings:
http://mrislistings.mris.com/DE.asp?k=2133467XBN8H&p=DE-155334106-284
Home buyers need to be very selective when submitting offers on short sale listings to avoid the disappointment of a canceled sale after much time has past.
Tip of the week:
You have the right to get a FREE COPY of your credit file disclosure, commonly called a credit report, once every 12 months, from each of the nationwide consumer credit reporting companies – EQUIFAX, EXPERIAN and TRANSUNION. For instant access to your FREE CREDIT REPORT, visit www.annualcreditreport.com or call 877-322-8228. You should review your credit file annually to help protect yourself from identity fraud and to ensure that there no unexpected issues. Annual review will help ensure a smoother process if and when you need to apply for a new mortgage.
If you would like to receive information on neighboring counties, please email me directly. Additionally, custom searches can be created based upon specific criteria as well.
Your Real Estate Professional,
Craig Rosenfeld
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